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Following tradition, markets will close for Reagan's funeral

US financial markets, in a tradition that dates back to the 1800s, will be closed Friday for the funeral of former President Ronald Reagan. Some companies also say they will close for the day.

President Bush ordered government agencies to close Friday as a mark of respect. Also Monday, the New York Stock Exchange, the Nasdaq Stock Market, other stock markets and the US bond market announced that they would be closed Friday, a national day of mourning. Options and futures markets will do likewise (and off-exchange networks such as Instinet said they would not trade U.S. stocks).